India and Mexico have formally launched negotiations for a Preferential Trade Agreement (PTA) after signing the Terms of Reference, aiming to expand bilateral trade, investment and business opportunities. The proposed pact will cover market access, customs procedures, rules of origin and trade facilitation. Key sectors identified for cooperation include automobiles, electronics, pharmaceuticals, chemicals, energy and critical minerals. Bilateral merchandise trade reached approximately USD 7.83 billion in FY2025–26, according to reports.
